Apple just confirmed how important the iPhone X's 3D camera really is

Apple is now using lasers to power Face ID, Animoji, Portrait mode selfies, and even the proximity sensing on the company's AirPods. While Apple has made tentative comments toward shifting more aspects of iPhone production onshore in the last few years, cost remains the critical factor in the decision. In the fourth quarter of 2017, Apple will purchase 10 times more VCSEL wafers than were previously manufactured worldwide over a similar time period. Still, Finisar stock is up 30 percent today, and this is a big deal for the company, which is nearly 30 years old and survived the dotcom bubble and crash experience.

Finisar - which is based in Sunnyvale, Calif. - will open a manufacturing plant in Sherman, Texas, about an hour north of Dallas, creating more than 500 jobs.

When combined with the company's nearby plant in Allen, Texas, Finisar's payroll in Northern Texas is expected to be $65 million.

Finisar's new facility should be fully operational by the second half of 2018.

Apple's fund is created to assist the growth of US-based manufacturing, as it seeks to bring a little more production back to the States. "We're extremely proud that our involvement will help transform another American community into a manufacturing powerhouse". Besides Finisar, Apple announced in May its $200 million investment in Corning Incorporated to support their R&D, capital equipment needs and glass processing.

500 people will be hired to help build the TrueDepth cameras for the current iPhone X model.